Ghana’s bid for a balance of payment support from the International Monetary Fund (IMF) has received the necessary debt assurances from China and the Paris Club.
They have called on all private creditors and other official bilateral creditors to join them in backing Ghana’s deal without further delay. The Paris Club issued a press statement on Friday, May 12, 2023, to announce this.
“The creditor committee emphasizes that the Ghanaian authorities are expected to request from all private creditors and other official bilateral creditors debt treatments on terms at least as favourable as those being considered by the creditor committee, in line with the comparability of treatment principle.
Therefore, the creditor committee urges private creditors and other official bilateral creditors to commit without delay to negotiate with Ghana such debt treatments that are essential to ensure the full effectiveness of the debt treatment for Ghana under the Common Framework,” part of the statement said.